TABLE OF CONTENTS
Sr. No. Chapter Page No
1 INTRODUCTION 1 TO 22
2 FRAME WORK 23 TO 27
3 RESEARCH METHODOLOGY 28 TO 29
4 DATA ANALYSIS 30 TO 42
5 CONCLUSIONS & RECOMMENDATIONS 43 TO 47
6 BIBLIOGRAPHY 48
7 ANNEXURE – 1 49 TO 50
8 ANNEXURE – 2 51
9 ANNEXURE – 3 52
Chapter -1
INTRODUCTION
Literature Review
The first step in the research process was to perform comprehensive secondary research. The available literature to explore prior studies related to the project topic was reviewed. In this project, three offers i.e. Wednesday Bazaar The Great Exchange Offer & Sabse Saste 3 Din have been considered. This gave a broader perspective to the issues pertaining to this topic and the concerns that were to be addressed. The literature review helped gaining valuable insight into the broader picture of the consumer behavior regarding such offers. Background
The Retail Industry in India
India's vast middle class and its almost untapped retail industry are key attractions for global retail giants wanting to enter newer markets. Driven by changing lifestyles, strong income growth and favorable demographic patterns, Indian retail is expected to grow 25 per cent annually.
Modern retail in India could be worth US$ 175-200 billion by 2016. With the economy booming, competition in the marketplace is fierce. According to 'Retail in India Getting Organized to Drive Growth', a report by AT Kearney and the Confederation of Indian Industry, retail is one of India's fastest growing industries with a 5 per cent compounded annual growth rate and expected revenues of US$ 320 billion in 2007. Rising incomes, increasing consumerism in urban areas and an upswing in rural consumption will fuel this growth to around 7-8 per cent. KSA-Technopak, a retail consulting and research agency, predicts that by 2010, organized retailing in India will cross the US$ 21.5-billion mark from the current size of US$ 7.5 billion.
Retail space
Retailers in India are the most aggressive in Asia in expanding their businesses, thus creating a huge demand for real estate. Their preferred means of expansion is to increase the number of their outlets in a city, and also expand to other regions, revealed the Jones Lang LaSalle third annual Retailer Sentiment Survey-Asia.
Deutsche Bank's research report on 'Building up India' says India's burgeoning middle class will drive up nominal retail sales through 2010 by 10 per cent per annum. The country may have 600 new shopping centers by 2010.
Food retail
Food dominates the shopping basket in India. The US$ 6.1 billion Indian foods industry, which forms 44 per cent of the entire FMCG sales, is growing at 9 per cent and has set the growth agenda for modern trade formats. Since nearly 60 per cent of the average Indian grocery basket comprises non-branded items, the branded food industry is homing in on converting Indian consumers to branded food.
Pantaloon Retail (India) Limited
Pantaloon Retail (India) Limited, is India's leading retail company with presence across multiple lines of businesses. The company owns and manages multiple retail formats that cater to a wide cross-section of the Indian society and is able to capture almost the entire consumption basket of the Indian consumer. Headquartered in Mumbai (Bombay), the company operates through 5 million square feet of retail space, has over 331 stores across 40 cities in India and employs over 17,000 people. The company registered a turnover of Rs.2,056crore for FY June 2007
Pantaloon Retail forayed into modern retail in 1997 with the launching of fashion retail chain, Pantaloons in Kolkata. In 2001, it launched Big Bazaar, a hypermarket chain that combines the look and feel of Indian bazaars, with aspects of modern retail, like choice, convenience and hygiene. This was followed by Food Bazaar, food and grocery chain and launch Central, a first of its kind seamless mall located in the heart of major Indian cities. Some of its other formats include, Collection i (home improvement products), E-Zone (consumer electronics), Depot (books, music, gifts and stationary), aLL (fashion apparel for plus-size individuals), Shoe Factory (footwear) and Blue Sky (fashion accessories). It has recently launched its etailing venture, futurebazaar.com.
The group's subsidiary companies include, Home Solutions Retail India Ltd, Pantaloon Industries Ltd, Galaxy Entertainment and Indus League Clothing. The group also has joint venture companies with a number of partners including French retailer Etam group, Lee Cooper, Manipal Healthcare, Talwalkar's, Gini & Jony and Liberty Shoes. Planet Retail, a group company owns the franchisee of international brands like Marks & Spencer, Debenhams, Next and Guess in India.
Future Group
Pantaloon Retail is the flagship enterprise of the Future Group, which is positioned to cater to the entire Indian consumption space. The Future Group operates through six verticals: Future Retail (encompassing all retail businesses), Future Capital (financial products and services), Future Brands (management of all brands owned or managed by group companies), Future Space (management of retail real estate), Future Logistics (management of supply chain and distribution) and Future Media (development and management of retail media).
Future Capital Holdings, the group's financial arm, focuses on asset management and consumer finance. It manages two real estate investment funds (Horizon and Kshitij) and consumer-related private equity fund, Indivision. It also plans to get into insurance, consumer credit and other consumer-related financial products and services in the near future.
Future Group's vision is to, "Deliver Everything, Everywhere, Everytime to Every Indian Consumer in the most profitable manner." One of the core values at Future Group is, 'Indianess' and its corporate credo are - Rewrite rules, Retain values.
Big Bazaar - Isse sasta aur accha kahin nahi
Big Bazaar, one of the biggest retail format of Pantaloon Retail (India) Limited, has democratized shopping in India and is much more than a hypermarket. Here, one finds over 170,000 products under one roof that cater to every need of a family, making Big Bazaar India’s favorite shopping destination. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers.
Spread across 45000 sq.ft. At Landmark, FATIMA NAGAR, Big Bazaar, one finds a huge variety of products to select from with a good price and quality. With the ever increasing array of private labels, it has opened the doors into the world of fashion and general merchandise including home furnishings, utensils, crockery, cutlery, sports goods and much more at surprisingly low prices.
In recent years, Big Bazaar has adopted value pricing in which they win loyal customers by charging a fairly low price for a high – quality offering. However, consistent low price for the products is not only the universally desired characteristic; it is also a surrogate for different offers provided by these stores at different intervals of time.
The Great Exchange Offer
Big Bazaar announced The Great Exchange Offer with a “Bring anything old and take anything new” concept which started from the 16th of Feb 2008 at the Landmark store. The offer was valid till the 16th of March 2008 at the store. Under the exchange offer, old garments, utensils, furniture, plastic ware, newspapers or just about anything was weighed and valued and customers were given exchange coupons. The customer could redeem the coupons before the due date on the condition that he/she shops four times the value of the coupon. There were also direct exchanges on mobiles and electronic goods during the period with attractive discounts on new purchases.
The prices fixed by Big Bazaar were: clothes (Rs 200 per kg), newspaper (Rs 25 per kg), plastics/utensils/leather goods (Rs. 75 per kg), footwear/luggage (Rs. 100 per kg), Pet/beer bottles (Rs 15 per kg), tyres (Rs 50 per kg), furniture (Rs 75 per kg) and others (Rs 20 per kg). These exchange values were found to be almost 4 to 5 times higher than the road side “kabari wala”. For the consumer, this offer aimed at helping the housewife clean out the junk while getting a good value for it. The coupons availed by the customer were equivalent to a 25% discount on products that could be purchased under this offer. For Big Bazaar, this promotion campaign helped boosting sales during the period of February and March as it has been noticed that these months are dull months for consumer buying. Big Bazaar undertook the following ways to promote The Great Exchange Offer:
Below the line activities for The Great Exchange Offer involved:
• Sufficient visual merchandizing within the store that included danglers, signages, standees, distribution of pamphlets, which gave details of the offer.
• Frequent announcements made by the staff inside the store at regular intervals.
Above the line activities for The Great Exchange Offer involved:
• TVC on popular entertainment channels like Star Plus, Sony, Set Max, Star One.
• Road shows carried out by the Big Bazaar staff with announcements about the offer to make people aware.
• Newspaper ads in almost all the local dailies like Sakal, The Times of India, on different days during the period of the offer.
The Great Exchange Offer newspaper ad and pamphlet
Some of the Initiatives Taken
In Near society
Hoarding Picks Of The Great Exchange Offer !!
Wednesday Bazaar – Hafte ka sabse sasta din
In January 2007, Big Bazaar introduced a Wednesday Bazaar concept called “Hafte Ka Sabse Sasta Din” with the aim to give homemakers the power to save the most on this day of the week. Wednesday Bazaar offers clothes, accessories and fashion jewellery and personal care products on greater discounts.
In the hypermarkets or supermarkets business, it is noted that the highest footfalls generated by these stores are mostly on the weekends or on national holidays. Therefore, it becomes very important for the retailer to plan certain offers in such a manner that it can attract people on the weekdays too. For the customers, Wednesday Bazaar is the “Hafte Ka Sabse Sasta Din” which the customers leverage on and for Big Bazaar; Wednesday Bazaar is an opportunity to maintain footfalls to its standards on weekdays too.
For Big Bazaar, Wednesday Bazaar is a concept, which it intends to run on a long-term basis. For which the aim is to inculcate in the minds of customers that every Wednesday is a day of greater savings at Big Bazaar. It is therefore, incumbent on the brand to have the offer grow and create deep impact on the minds of the customers. It has tried to do this in the following ways:
Below the line activities for Wednesday Bazaar involves:
• Visual merchandizing promoting the offer with the help of danglers, signages, standees, etc.
• Frequent announcements made by the staff inside the store on a regular basis.
Above the line activities for Wednesday Bazaar involves:
• TVC on popular entertainment channels like Sony, Star Plus, Set Max, Star One.
• Newspaper ads on Wednesday in the local dailies, Sakal and Times Of India.
• Hoardings at Swargate and Pune-Solapur Highway.
The picture on the following page shows some stickers that were printed which were distributed free of cost to the customers at Big Bazaar. These stickers contain the Wednesday Bazaar logo with a particular basic need food/grocery item. Customers can use the stickers on the containers in their kitchens that contain the specific item in it. The main aim behind these stickers were to remind customers of Wednesday Bazaar each time they see the containers of the respective items printed on each sticker.
Wednesday Bazaar sticker.
A Wednesday Bazaar News Paper Ad.
Activity done for Wednesday Bazaar
Sabse Saste Teen Din ( Big days )
“26 Jan Republic Day A National Holiday”
Big Bazaar Marketing Department gave a new thought on this day in 2006 they started a new shopping festival, i.e.
Sabse Saste Teen Din . None of the retail industry were aware about these surprise shopping festival . Big Bazaar did it in its own way!!
They showed this National holiday can be celebrate in festival mode , while doing shopping Big bazaar throwed
Up to 65% of on each & every products in the store for three days. So the promotion was called Sabse Saste Teen
Din.
What Big Bazaar did Special?
Marketing
Above the line activities for SS3D involes:
All the leading channel had SS3D 10 Spot in each Ex.Sony, SetMax.
Advt in Leading Newspaper like Sakal, Lokmat, Indian Express.
Radio: Radiomirchi 16 Spot in a day.
Below the line activity for SS3D involes:
Road Show ,Distribution of leaflets, Invitations in near by societies & Corporates,Sms Activity, Cable scroll,Hoardings,Human Banners.
Marketing Expenses:
In 2006: 1.5CR
In 2007: 3.5CR
In 2008: 5CR
Operations:
1. All Category provided offers well in advance.
2. I.T uploaded the offers one day in advance and rechecked them.
3. V.M also did splendid job by putting the required offer signage’s and also decorated the store as per the SS3D theme.
4. HR managed the shift time of employee; Snaks were arranged for the staff.
5. SM, ASM, DM, ADM-Planned and managed micro analysis of targets and staff was done by taking department wise meeting.
HOARDING OF SS3D
Four page Ad’s in Leading Newspaper
IN STORE V.M
Entrance Gate
Hot Offer Zone
CRAZY CROWD TO ENTER IN STORE
SOME HAPPY MOVEMENTS AFTER THE TARGET ACHIEVING
Framework
Advertising:
Advertising is recognized as an indispensable tool of promotion.It has acquired a lot of significance in the national and international markets.With the advent of globalization and liberalization its imperativeness in the Indian retail sector has increased as a result of competiton,latest technologies ,and the rapidly changing consumer lifestyles.
Objectives Of Advertising:
The fundamental objective of advertising is to sell something –a product, service, or an idea.
The Major Objectives of advertising are:
A. To promote a new product.
B. To warn the public against imitation of the retailer’s product.
C. To manage competition in the market.
Store
Benefits of Advertisements:
A. Advertisement helps in creating awareness among the customer about the existence, price, and availability of product.
B. Increases the utility of existing products.
C. It educates customer about new product and their diverse uses.
Types of Advertising
Types of advertising:
Informative Advertising:
Purchases of durable products are generally erratic and often too expensive to buy, so the retailer spends a huge amount on informative advertising.
Corporate Advertising:
Its main motive is to build a corporate image. Corporate Advertising builds up retailer image.
It increases goodwill towards the retail organization.
Financial Advertising:
It refers to advertisements by various financial institutions. Big Bazaar has also tied up with ICICI bank, which provide information about the investment opportunities and the risks and benefits.
Classified Advertising:
It refers to messages, which are placed under specific headings and columns in various magazines and newspapers.
Framework :
Self Concept, which refers to the beliefs of an individual about oneself and how he/she evaluates his/her qualities, is essentially the feature that requires an understanding. There exists a bridge between the ideal self and actual self for the consumers who avail the offers given by Big Bazaar. Consumers concentrating more on their needs and necessities than desires are the ones who extract the most out of these offers.
Business Objective
To increase footfalls and enhance sales by:
• Attracting customers by giving them various offers.
• Inculcating in their minds the value for money through these offers.
• Increasing the average consumption of existing customers.
Research Objective
The research objectives of this project are:
Market Analysis:
Marketing activities and operational activities are always driven with an aim of getting sale increased with innovate ideas.
Offers are designed in such a manner that customers are made to go and experience the shopping.
Marketing also gives some offer to increase the bill size, taking in consideration the on going fashion in vogue.
2. Marketing Strategies targeting the customer:
Advertising Strategy – Understanding the media consumption habits of the customer.
Research Methodology
A sample size of 30 was considered in this project. That is, a total number of respondents were 30 for each offer, The Great Exchange Offer and Wednesday Bazaar.
Fig. 1
1 – Regular shoppers.
2 – Frequent shoppers.
3 - Infrequent shoppers.
4 – Visit during offers only.
5 – Shop from Big Bazaar only.
6 – Visit when there is time.
7 – Prefer Big Bazaar
Fig. 1 shows the approximate percentages of people who lie in the above mentioned categories. According to the chart, 40% of the respondents have been found to be regular visitors of Big Bazaar, which implies that they are aware of almost all the major offers and promotions running in the store. Regular visitors would mean that they are visitors who come regularly which could be at similar time intervals i.e. any particular day(s) of the week. Among the regular shoppers, i.e. 12 out of 30, 4 respondents were such who visited Food Bazaar only. Frequent visitors occupy 10% of the total respondents. Frequent visitors visit irrespective of any regular time intervals. The no. of visits by frequent customers are more as compared to the regular visitors. Frequent shoppers, too, are found aware of Exchange Offer.
Then are the infrequent shoppers who visit the store 1-2 times a month. The infrequent shoppers are the ones who do not have any special preference towards Big Bazaar. The same applies to the customers who visit Big Bazaar only during offers. 7% of the respondents have been found to make almost all their purchases from Big Bazaar only. 13% respondents visit Big Bazaar only when they have time. Some respondents who visit only on Sundays are included in this category. 10% of the respondents gave a feedback of preferring Big Bazaar as their shopping destination. They are the ones who make purchases from other stores too however, prefer Big Bazaar most of the time.
The Great Exchange Offer
Fig. 2
1 – Aware of The Great Exchange Offer.
2 – Unaware of the offer.
24 customers out of 30 were found to be aware of The Great Exchange Offer whereas the remaining 6 were unaware of the offer, which also included customers who were not interested in any offers run by Big Bazaar.
Fig. 3
1 – Newspapers.
2 – TVC.
3 – Visual merchandising including danglers, signages, exchange gate etc.
4 – Leaflet Distribution, Cable Ad., Road Show,
The respondents in this chart have been categorized from the previous analysis i.e. from the total no. of customers who are aware of the offer. The customers who are not aware or not interested in knowing about the offers have been ignored. This chart shows the percentage of respondents who have specified their particular source of information about the offer.
Fig. 4
1 – Availed The Great Exchange Offer.
2 – Did not avail the offer.
18 out of 30 respondents availed The Great Exchange Offer whereas the remaining 12 respondents did not avail the offer.
Fig. 5
1 – Repeaters i.e. ones who availed the offer last year too.
2 – First timers.
Out of the 18 respondents, according to the previous data analyzed i.e. fig. 4, 12 respondents are ones who availed the offer during the previous year too whereas, the remaining 6 customers were availing the offer for the first time.
Fig. 6
1 – Getting rid of worn out things in exchange of new products.
2 – Uniqueness of the offer.
3 – Large variety of new products to choose from.
4 – Avail 25% further discount on chosen products, which already are marked down.
Out of the 18 customers who availed the offer, the above-mentioned are the reasons given by them for availing the offer. 9 out of 18 i.e. 50% said that the offer helped them get rid of old and worn out things at home in exchange of new products. 4 out of 18 said that this offer wasn’t given by any other megastores and was unique. 3 out of 18 said that there were large no. of products they could choose to purchase from. And 2 out of 18 wanted to avail further discounts on the products that were chosen by them and were already marked down. It has been observed that 2 out of 18 respondents who were issued a large amount of coupons complained of less no. of days given for the coupon’s validity. And 14 out of these 18 respondents have shown an interest to avail the offer again in the coming years.
Fig. 7
1 – Shop 4 times the value of coupons.
2 – Offers are a way of fooling customers.
3 – Not interested in offers.
4 – Inconvenience due to long distance travel.
Out of 30 respondents, 12 did not avail the offer. Out of these 12 respondents, 4 have been found to be unaware of the offer. And from the remaining 8 respondents, above were the reasons given by them for not availing the offer. 3 out of the 8 customers said that purchasing 4 times the value of the coupons was not feasible. 2 out of 8 said that offers were a way of misleading or fooling people. 2 out of 8 have no interest in offers. And 1 out of 8 gave a feedback of inconvenience in traveling long distance from his residence.
Wednesday Bazaar
Fig. 8
1 – Not aware of Wednesday Bazaar Offer.
2 – Slight idea about the offer.
3 – Aware of Wednesday Bazaar.
Out of the 30 respondents, 19 have been found to be aware of the Wednesday Bazaar offer. And 2 out of 30 have a slight idea about the offer. The remaining 9 are not aware of Wednesday Bazaar at all.
Fig.9
1 – VM i.e. danglers, signages, etc.
2 – Newspapers.
3 – TVC.
4 – RD-Show.
According to the previous data analyzed i.e. fig. 8, only 68% of the respondents have been found to be aware of Wednesday Bazaar offer. That is, 18 out of 30 respondents are aware of the offer and the remaining are either unaware or have a slight idea. Therefore, out of the 18 respondents who are aware of the offer, 4 (40%) are aware through the visual merchandising within the store i.e. danglers, signages, etc. and also the announcements made in the store. 6 (33%) out of 18 respondents are aware through newspaper ads, 4 (20%) out of 18 through TVC and 1 (7%) out of 18 through road show.
Fig. 10
1 – Avail Wednesday Bazaar offer.
2 – Do not avail Wednesday Bazaar offer.
Out of the 15 respondents aware of Wednesday Bazaar offer, only 73% i.e. 13 respondents avail the offer. The remaining 27% i.e. 5 do not avail the offer.
Fig. 11
1 – Offers way of fooling customers.
2 – Inconvenient coming on Wednesdays.
3 – Not interested.
4 – Not much of price difference compared to other days or places.
5 – Not clear about the offer.
Out of the 18 respondents aware of the offer, 5 do not avail the offer and the reasons given by them are mentioned above. 1 out of 5 find offers misleading or way of fooling customers, 3out of 7 find it inconvenient to come on Wednesdays, 2 respondents have no interest in offers, 1 does not find much of price difference on products on the offer days and the remaining 3 respondents are not clear about the offer. They complain of not having a clear idea of the products that are discounted during the offer. No. of danglers and sinages are too many to get them confused about offers.
SABSE SASTE TEEN DIN
Fig. 12
1 – Avail SS3D offer
2 – Do not avail SS3D offer
Out of the 15 respondents aware of SS3D offer, only 73% i.e. 13 respondents avail the offer. The remaining 27% i.e. 2 do not avail the offer.
Conclusions
The Great Exchange Offer
According to the data analysis done in the previous chapter, it has been found out that for The Great Exchange Offer, the awareness level of people has been sufficient enough. The biggest source of information here has been the newspaper ads. However, number of people who have availed the offer could have been more. It also has been observed that majority customers who availed the offer have been the ones who had availed the offer last year. The number of first timers is less compared to the repeaters.
Here, the first timers can be considered as potential customers for the coming years. As they can be expected to avail the offer next year again.
It was also observed that some customers approached the exchange offer spot without complete knowledge about the offer with junk and on knowing the rules, especially coupons redeemable only on purchase of 4 times the amount of coupons. These customers were seen to have gone back immediately. These customers came with the perception of acquiring new products directly in exchange with the worn out junk that they brought along without any purchases. The conclusion drawn here can be that these customers came to the offer spot without reading the offer carefully in the ads published.
Respondents who readily availed the offer had a common point of view i.e. one of the best ways of getting rid of junk and buying new useful products with a flat 25% discount.
Some respondents went to the store first to have a look at the products that were under the offer. Some products were marked down and on top of it were placed under the offer which means a 25% further discount on them. This gave an opportunity to the customers to avail the offer more readily as the product of their choice was available on a very low rate.
The offer had some common cons that were distinct. For example, number of days given to customers to redeem the coupons was 7. For some customers who gave away lot of junk and got coupons worth thousands of rupees found it difficult to make purchases 4 times the amount of coupons issued to them.
Wednesday Bazaar
According to the data, sufficient danglers in the store along with sinages, newspaper Ads,
Hoardings and TVC, the awareness level for this offer has been found out to be very good. Customers who are aware of this offer are very interested in availing it. Reason being good idea of the product that are under the offer. Wednesday Bazaar has plenty of products marked down on Wednesday; however customers find them easily within the store. This could be because of Newspaper Ads, Hoardings and Danglers and Sinages inside the store, which makes the customers to able the spot of the products easily under the offer. Respondents who visit on Wednesday very eagerly come because of the offers.
Sabse Saste Teen Din
“Sabse Saste Teen Din” customers were already prepared for the mega shopping event, because of marketing pre activities like Television Ads Newspaper,Hoardings,Local cable Ads ,Road show,Posters,Sms activity, Corporate tie up. Customers were waiting in Queue to get in store. A lot of shopping was done by customers from every department. On an average basis each and every customer purchased not less than 1000 Rs.Minimum three to four bags with full of product were their in every customer hand. Shopping was done by the all age group right from small children to old, and the store ended doing 104% of the store’s target (ABP) and the highest achievement in all the Big Bazaar in Pune was Fatima Nagar store which did 1crore in a day.
Recommendations
The Great Exchange Offer
The biggest drawback in this offer is the number of days given to customers for redeeming the coupons. People who are issued large amounts of coupons can be given more number of days for redemption depending on the amount of coupons issued. For example, customers issued with coupons amounting to Rs. 1500 can be allotted 2 weeks time as the amount required to be spent by them is Rs.4500.
Customers not interested in offers are the ones who make purchases irrespective of offers running or not so they are the least potential customers.
Wednesday Bazaar
One of the biggest drawbacks is the distinct visibility of the products under offer on that particular day. The number of sinages within the store can be reduced for that particular day. Products placed under offer for that day should be highlighted more with better display of the discount offered.
Another way of generating awareness of Wednesday Bazaar is by distributing discount coupons on Tuesdays with list of items under offer for Wednesday. Customers walking in with the coupon the next day can avail a discount if he/she selects and decides to purchase an item mentioned on the coupon. This way, customers will walk into the store on Tuesdays out of curiosity to know about the products that are being offered the next day hence, increasing the footfall on Tuesday as well as Wednesday. Creating an impact of Wednesday Bazaar is necessary as it is an offer which has been introduced at Big Bazaar on a long-term basis.
SABSE SASTE TEEN DIN.
According to the data analysis done, it has been found out that for the SS3D, the awareness level of the people has been sufficient enough. The biggest source of information here has been the NewspaperAds, Roadshow, Sms activity. However, number fo people who have availed the offers could have been more. The majority customers who have availed the offers have been the ones who had availed the offer last year. The number of first timers is less compared to the repeaters.
Here, the first timers can be considered as potential customers for the coming years. As they can be expected to avail the offer next year again. It was observed that some customers approached the SS3D offer spot without complete knowledge about the offer. People who wants to shop had gone back because of huge rush in the store and hours waiting to enter in the stire.Peoples coming with their family find it very difficult to enter in the store.
Some of the customers left their shopping bags in the store, because of the huge line at billing counter. The entire home delivery and exchange counter has been closed for next three days .If all the things would have been done in a proper manner, the store could have done much better by achieving 110% instead of 104%.
ANNEXURE – 1
1. Big Bazaar visits?
Frequently (6-7 times a month) Regularly (once a week) Infrequently (1-2 times a month)
During offers only Only on Sundays
2. Aware of Exchange Offer? Yes No
3. If Yes, then source of awareness: Newspaper Ads TVCs VMs
Hoardings Reference/Mouth publicity
4. Availed Exchange Offer? Yes No
5. If Yes, then availed first time or has availed previously too?
6. (If respondent has availed Exchange Offer) Influences?
Getting rid of worn outs in exchange of
new products.
Uniqueness of the offer.
Any other reason (Specify)
8. Would he avail the offer again, next year? Yes No
9. (If respondent has not availed Exchange Offer) Reasons?
Offers mislead/fool customers.
Long distance traveler.
Not interested.
Have to shop 4 times the value of coupons issued within 7 days from date of issue.
Any other reason (Specify)
10. Any other comments:
ANNEXURE – 2
1. Aware of Wednesday Bazaar Offer? Yes No Slight idea
2. If Yes, then source of awareness: Newspaper Ads TVC VM
Hoardings Reference/Mouth publicity
3. Avails Wednesday Bazaar Offer regularly? Yes No
4. (If respondent avails Wednesday Bazaar Offer) Influences?
Convenient shopping on Wednesdays.
Lower prices as compared to other days.
Any other reason (Specify)
5. (If respondent does not avail Wednesday Bazaar Offer) Reasons?
Offers mislead/fool customers.
Inconvenient coming on Wednesdays.
Not interested.
Lowered prices are similar to the prices elsewhere.
Offer not clear.
Any other reason (Specify)
6. Any other comments:
ANNEXURE-3
1. Aware of Sabse Saste Teen Din? Yes No Slight idea.
2. If Yes, then source of awareness: Newspaper Ads Hoardings
Reference Cable Ad/Road Show TVC
3. Availed SS3D Last Year? Yes No
4. ( if respondent avails SS3D Offer) Influence?
Offers only for 3 days.
Lower Price as compared to other days
Any other reason (specify)…………………….
5. (if respondent does not avail SS3D Offer) Reasons?
Lowered prices are similar to the price elsewhere.
Inconvenient location.
Not interested
Any other reason (specify)………………………….
6. Any other comments………………………………………………….
Sr. No. Chapter Page No
1 INTRODUCTION 1 TO 22
2 FRAME WORK 23 TO 27
3 RESEARCH METHODOLOGY 28 TO 29
4 DATA ANALYSIS 30 TO 42
5 CONCLUSIONS & RECOMMENDATIONS 43 TO 47
6 BIBLIOGRAPHY 48
7 ANNEXURE – 1 49 TO 50
8 ANNEXURE – 2 51
9 ANNEXURE – 3 52
Chapter -1
INTRODUCTION
Literature Review
The first step in the research process was to perform comprehensive secondary research. The available literature to explore prior studies related to the project topic was reviewed. In this project, three offers i.e. Wednesday Bazaar The Great Exchange Offer & Sabse Saste 3 Din have been considered. This gave a broader perspective to the issues pertaining to this topic and the concerns that were to be addressed. The literature review helped gaining valuable insight into the broader picture of the consumer behavior regarding such offers. Background
The Retail Industry in India
India's vast middle class and its almost untapped retail industry are key attractions for global retail giants wanting to enter newer markets. Driven by changing lifestyles, strong income growth and favorable demographic patterns, Indian retail is expected to grow 25 per cent annually.
Modern retail in India could be worth US$ 175-200 billion by 2016. With the economy booming, competition in the marketplace is fierce. According to 'Retail in India Getting Organized to Drive Growth', a report by AT Kearney and the Confederation of Indian Industry, retail is one of India's fastest growing industries with a 5 per cent compounded annual growth rate and expected revenues of US$ 320 billion in 2007. Rising incomes, increasing consumerism in urban areas and an upswing in rural consumption will fuel this growth to around 7-8 per cent. KSA-Technopak, a retail consulting and research agency, predicts that by 2010, organized retailing in India will cross the US$ 21.5-billion mark from the current size of US$ 7.5 billion.
Retail space
Retailers in India are the most aggressive in Asia in expanding their businesses, thus creating a huge demand for real estate. Their preferred means of expansion is to increase the number of their outlets in a city, and also expand to other regions, revealed the Jones Lang LaSalle third annual Retailer Sentiment Survey-Asia.
Deutsche Bank's research report on 'Building up India' says India's burgeoning middle class will drive up nominal retail sales through 2010 by 10 per cent per annum. The country may have 600 new shopping centers by 2010.
Food retail
Food dominates the shopping basket in India. The US$ 6.1 billion Indian foods industry, which forms 44 per cent of the entire FMCG sales, is growing at 9 per cent and has set the growth agenda for modern trade formats. Since nearly 60 per cent of the average Indian grocery basket comprises non-branded items, the branded food industry is homing in on converting Indian consumers to branded food.
Pantaloon Retail (India) Limited
Pantaloon Retail (India) Limited, is India's leading retail company with presence across multiple lines of businesses. The company owns and manages multiple retail formats that cater to a wide cross-section of the Indian society and is able to capture almost the entire consumption basket of the Indian consumer. Headquartered in Mumbai (Bombay), the company operates through 5 million square feet of retail space, has over 331 stores across 40 cities in India and employs over 17,000 people. The company registered a turnover of Rs.2,056crore for FY June 2007
Pantaloon Retail forayed into modern retail in 1997 with the launching of fashion retail chain, Pantaloons in Kolkata. In 2001, it launched Big Bazaar, a hypermarket chain that combines the look and feel of Indian bazaars, with aspects of modern retail, like choice, convenience and hygiene. This was followed by Food Bazaar, food and grocery chain and launch Central, a first of its kind seamless mall located in the heart of major Indian cities. Some of its other formats include, Collection i (home improvement products), E-Zone (consumer electronics), Depot (books, music, gifts and stationary), aLL (fashion apparel for plus-size individuals), Shoe Factory (footwear) and Blue Sky (fashion accessories). It has recently launched its etailing venture, futurebazaar.com.
The group's subsidiary companies include, Home Solutions Retail India Ltd, Pantaloon Industries Ltd, Galaxy Entertainment and Indus League Clothing. The group also has joint venture companies with a number of partners including French retailer Etam group, Lee Cooper, Manipal Healthcare, Talwalkar's, Gini & Jony and Liberty Shoes. Planet Retail, a group company owns the franchisee of international brands like Marks & Spencer, Debenhams, Next and Guess in India.
Future Group
Pantaloon Retail is the flagship enterprise of the Future Group, which is positioned to cater to the entire Indian consumption space. The Future Group operates through six verticals: Future Retail (encompassing all retail businesses), Future Capital (financial products and services), Future Brands (management of all brands owned or managed by group companies), Future Space (management of retail real estate), Future Logistics (management of supply chain and distribution) and Future Media (development and management of retail media).
Future Capital Holdings, the group's financial arm, focuses on asset management and consumer finance. It manages two real estate investment funds (Horizon and Kshitij) and consumer-related private equity fund, Indivision. It also plans to get into insurance, consumer credit and other consumer-related financial products and services in the near future.
Future Group's vision is to, "Deliver Everything, Everywhere, Everytime to Every Indian Consumer in the most profitable manner." One of the core values at Future Group is, 'Indianess' and its corporate credo are - Rewrite rules, Retain values.
Big Bazaar - Isse sasta aur accha kahin nahi
Big Bazaar, one of the biggest retail format of Pantaloon Retail (India) Limited, has democratized shopping in India and is much more than a hypermarket. Here, one finds over 170,000 products under one roof that cater to every need of a family, making Big Bazaar India’s favorite shopping destination. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers.
Spread across 45000 sq.ft. At Landmark, FATIMA NAGAR, Big Bazaar, one finds a huge variety of products to select from with a good price and quality. With the ever increasing array of private labels, it has opened the doors into the world of fashion and general merchandise including home furnishings, utensils, crockery, cutlery, sports goods and much more at surprisingly low prices.
In recent years, Big Bazaar has adopted value pricing in which they win loyal customers by charging a fairly low price for a high – quality offering. However, consistent low price for the products is not only the universally desired characteristic; it is also a surrogate for different offers provided by these stores at different intervals of time.
The Great Exchange Offer
Big Bazaar announced The Great Exchange Offer with a “Bring anything old and take anything new” concept which started from the 16th of Feb 2008 at the Landmark store. The offer was valid till the 16th of March 2008 at the store. Under the exchange offer, old garments, utensils, furniture, plastic ware, newspapers or just about anything was weighed and valued and customers were given exchange coupons. The customer could redeem the coupons before the due date on the condition that he/she shops four times the value of the coupon. There were also direct exchanges on mobiles and electronic goods during the period with attractive discounts on new purchases.
The prices fixed by Big Bazaar were: clothes (Rs 200 per kg), newspaper (Rs 25 per kg), plastics/utensils/leather goods (Rs. 75 per kg), footwear/luggage (Rs. 100 per kg), Pet/beer bottles (Rs 15 per kg), tyres (Rs 50 per kg), furniture (Rs 75 per kg) and others (Rs 20 per kg). These exchange values were found to be almost 4 to 5 times higher than the road side “kabari wala”. For the consumer, this offer aimed at helping the housewife clean out the junk while getting a good value for it. The coupons availed by the customer were equivalent to a 25% discount on products that could be purchased under this offer. For Big Bazaar, this promotion campaign helped boosting sales during the period of February and March as it has been noticed that these months are dull months for consumer buying. Big Bazaar undertook the following ways to promote The Great Exchange Offer:
Below the line activities for The Great Exchange Offer involved:
• Sufficient visual merchandizing within the store that included danglers, signages, standees, distribution of pamphlets, which gave details of the offer.
• Frequent announcements made by the staff inside the store at regular intervals.
Above the line activities for The Great Exchange Offer involved:
• TVC on popular entertainment channels like Star Plus, Sony, Set Max, Star One.
• Road shows carried out by the Big Bazaar staff with announcements about the offer to make people aware.
• Newspaper ads in almost all the local dailies like Sakal, The Times of India, on different days during the period of the offer.
The Great Exchange Offer newspaper ad and pamphlet
Some of the Initiatives Taken
In Near society
Hoarding Picks Of The Great Exchange Offer !!
Wednesday Bazaar – Hafte ka sabse sasta din
In January 2007, Big Bazaar introduced a Wednesday Bazaar concept called “Hafte Ka Sabse Sasta Din” with the aim to give homemakers the power to save the most on this day of the week. Wednesday Bazaar offers clothes, accessories and fashion jewellery and personal care products on greater discounts.
In the hypermarkets or supermarkets business, it is noted that the highest footfalls generated by these stores are mostly on the weekends or on national holidays. Therefore, it becomes very important for the retailer to plan certain offers in such a manner that it can attract people on the weekdays too. For the customers, Wednesday Bazaar is the “Hafte Ka Sabse Sasta Din” which the customers leverage on and for Big Bazaar; Wednesday Bazaar is an opportunity to maintain footfalls to its standards on weekdays too.
For Big Bazaar, Wednesday Bazaar is a concept, which it intends to run on a long-term basis. For which the aim is to inculcate in the minds of customers that every Wednesday is a day of greater savings at Big Bazaar. It is therefore, incumbent on the brand to have the offer grow and create deep impact on the minds of the customers. It has tried to do this in the following ways:
Below the line activities for Wednesday Bazaar involves:
• Visual merchandizing promoting the offer with the help of danglers, signages, standees, etc.
• Frequent announcements made by the staff inside the store on a regular basis.
Above the line activities for Wednesday Bazaar involves:
• TVC on popular entertainment channels like Sony, Star Plus, Set Max, Star One.
• Newspaper ads on Wednesday in the local dailies, Sakal and Times Of India.
• Hoardings at Swargate and Pune-Solapur Highway.
The picture on the following page shows some stickers that were printed which were distributed free of cost to the customers at Big Bazaar. These stickers contain the Wednesday Bazaar logo with a particular basic need food/grocery item. Customers can use the stickers on the containers in their kitchens that contain the specific item in it. The main aim behind these stickers were to remind customers of Wednesday Bazaar each time they see the containers of the respective items printed on each sticker.
Wednesday Bazaar sticker.
A Wednesday Bazaar News Paper Ad.
Activity done for Wednesday Bazaar
Sabse Saste Teen Din ( Big days )
“26 Jan Republic Day A National Holiday”
Big Bazaar Marketing Department gave a new thought on this day in 2006 they started a new shopping festival, i.e.
Sabse Saste Teen Din . None of the retail industry were aware about these surprise shopping festival . Big Bazaar did it in its own way!!
They showed this National holiday can be celebrate in festival mode , while doing shopping Big bazaar throwed
Up to 65% of on each & every products in the store for three days. So the promotion was called Sabse Saste Teen
Din.
What Big Bazaar did Special?
Marketing
Above the line activities for SS3D involes:
All the leading channel had SS3D 10 Spot in each Ex.Sony, SetMax.
Advt in Leading Newspaper like Sakal, Lokmat, Indian Express.
Radio: Radiomirchi 16 Spot in a day.
Below the line activity for SS3D involes:
Road Show ,Distribution of leaflets, Invitations in near by societies & Corporates,Sms Activity, Cable scroll,Hoardings,Human Banners.
Marketing Expenses:
In 2006: 1.5CR
In 2007: 3.5CR
In 2008: 5CR
Operations:
1. All Category provided offers well in advance.
2. I.T uploaded the offers one day in advance and rechecked them.
3. V.M also did splendid job by putting the required offer signage’s and also decorated the store as per the SS3D theme.
4. HR managed the shift time of employee; Snaks were arranged for the staff.
5. SM, ASM, DM, ADM-Planned and managed micro analysis of targets and staff was done by taking department wise meeting.
HOARDING OF SS3D
Four page Ad’s in Leading Newspaper
IN STORE V.M
Entrance Gate
Hot Offer Zone
CRAZY CROWD TO ENTER IN STORE
SOME HAPPY MOVEMENTS AFTER THE TARGET ACHIEVING
Framework
Advertising:
Advertising is recognized as an indispensable tool of promotion.It has acquired a lot of significance in the national and international markets.With the advent of globalization and liberalization its imperativeness in the Indian retail sector has increased as a result of competiton,latest technologies ,and the rapidly changing consumer lifestyles.
Objectives Of Advertising:
The fundamental objective of advertising is to sell something –a product, service, or an idea.
The Major Objectives of advertising are:
A. To promote a new product.
B. To warn the public against imitation of the retailer’s product.
C. To manage competition in the market.
Store
Benefits of Advertisements:
A. Advertisement helps in creating awareness among the customer about the existence, price, and availability of product.
B. Increases the utility of existing products.
C. It educates customer about new product and their diverse uses.
Types of Advertising
Types of advertising:
Informative Advertising:
Purchases of durable products are generally erratic and often too expensive to buy, so the retailer spends a huge amount on informative advertising.
Corporate Advertising:
Its main motive is to build a corporate image. Corporate Advertising builds up retailer image.
It increases goodwill towards the retail organization.
Financial Advertising:
It refers to advertisements by various financial institutions. Big Bazaar has also tied up with ICICI bank, which provide information about the investment opportunities and the risks and benefits.
Classified Advertising:
It refers to messages, which are placed under specific headings and columns in various magazines and newspapers.
Framework :
Self Concept, which refers to the beliefs of an individual about oneself and how he/she evaluates his/her qualities, is essentially the feature that requires an understanding. There exists a bridge between the ideal self and actual self for the consumers who avail the offers given by Big Bazaar. Consumers concentrating more on their needs and necessities than desires are the ones who extract the most out of these offers.
Business Objective
To increase footfalls and enhance sales by:
• Attracting customers by giving them various offers.
• Inculcating in their minds the value for money through these offers.
• Increasing the average consumption of existing customers.
Research Objective
The research objectives of this project are:
Market Analysis:
Marketing activities and operational activities are always driven with an aim of getting sale increased with innovate ideas.
Offers are designed in such a manner that customers are made to go and experience the shopping.
Marketing also gives some offer to increase the bill size, taking in consideration the on going fashion in vogue.
2. Marketing Strategies targeting the customer:
Advertising Strategy – Understanding the media consumption habits of the customer.
Research Methodology
A sample size of 30 was considered in this project. That is, a total number of respondents were 30 for each offer, The Great Exchange Offer and Wednesday Bazaar.
Fig. 1
1 – Regular shoppers.
2 – Frequent shoppers.
3 - Infrequent shoppers.
4 – Visit during offers only.
5 – Shop from Big Bazaar only.
6 – Visit when there is time.
7 – Prefer Big Bazaar
Fig. 1 shows the approximate percentages of people who lie in the above mentioned categories. According to the chart, 40% of the respondents have been found to be regular visitors of Big Bazaar, which implies that they are aware of almost all the major offers and promotions running in the store. Regular visitors would mean that they are visitors who come regularly which could be at similar time intervals i.e. any particular day(s) of the week. Among the regular shoppers, i.e. 12 out of 30, 4 respondents were such who visited Food Bazaar only. Frequent visitors occupy 10% of the total respondents. Frequent visitors visit irrespective of any regular time intervals. The no. of visits by frequent customers are more as compared to the regular visitors. Frequent shoppers, too, are found aware of Exchange Offer.
Then are the infrequent shoppers who visit the store 1-2 times a month. The infrequent shoppers are the ones who do not have any special preference towards Big Bazaar. The same applies to the customers who visit Big Bazaar only during offers. 7% of the respondents have been found to make almost all their purchases from Big Bazaar only. 13% respondents visit Big Bazaar only when they have time. Some respondents who visit only on Sundays are included in this category. 10% of the respondents gave a feedback of preferring Big Bazaar as their shopping destination. They are the ones who make purchases from other stores too however, prefer Big Bazaar most of the time.
The Great Exchange Offer
Fig. 2
1 – Aware of The Great Exchange Offer.
2 – Unaware of the offer.
24 customers out of 30 were found to be aware of The Great Exchange Offer whereas the remaining 6 were unaware of the offer, which also included customers who were not interested in any offers run by Big Bazaar.
Fig. 3
1 – Newspapers.
2 – TVC.
3 – Visual merchandising including danglers, signages, exchange gate etc.
4 – Leaflet Distribution, Cable Ad., Road Show,
The respondents in this chart have been categorized from the previous analysis i.e. from the total no. of customers who are aware of the offer. The customers who are not aware or not interested in knowing about the offers have been ignored. This chart shows the percentage of respondents who have specified their particular source of information about the offer.
Fig. 4
1 – Availed The Great Exchange Offer.
2 – Did not avail the offer.
18 out of 30 respondents availed The Great Exchange Offer whereas the remaining 12 respondents did not avail the offer.
Fig. 5
1 – Repeaters i.e. ones who availed the offer last year too.
2 – First timers.
Out of the 18 respondents, according to the previous data analyzed i.e. fig. 4, 12 respondents are ones who availed the offer during the previous year too whereas, the remaining 6 customers were availing the offer for the first time.
Fig. 6
1 – Getting rid of worn out things in exchange of new products.
2 – Uniqueness of the offer.
3 – Large variety of new products to choose from.
4 – Avail 25% further discount on chosen products, which already are marked down.
Out of the 18 customers who availed the offer, the above-mentioned are the reasons given by them for availing the offer. 9 out of 18 i.e. 50% said that the offer helped them get rid of old and worn out things at home in exchange of new products. 4 out of 18 said that this offer wasn’t given by any other megastores and was unique. 3 out of 18 said that there were large no. of products they could choose to purchase from. And 2 out of 18 wanted to avail further discounts on the products that were chosen by them and were already marked down. It has been observed that 2 out of 18 respondents who were issued a large amount of coupons complained of less no. of days given for the coupon’s validity. And 14 out of these 18 respondents have shown an interest to avail the offer again in the coming years.
Fig. 7
1 – Shop 4 times the value of coupons.
2 – Offers are a way of fooling customers.
3 – Not interested in offers.
4 – Inconvenience due to long distance travel.
Out of 30 respondents, 12 did not avail the offer. Out of these 12 respondents, 4 have been found to be unaware of the offer. And from the remaining 8 respondents, above were the reasons given by them for not availing the offer. 3 out of the 8 customers said that purchasing 4 times the value of the coupons was not feasible. 2 out of 8 said that offers were a way of misleading or fooling people. 2 out of 8 have no interest in offers. And 1 out of 8 gave a feedback of inconvenience in traveling long distance from his residence.
Wednesday Bazaar
Fig. 8
1 – Not aware of Wednesday Bazaar Offer.
2 – Slight idea about the offer.
3 – Aware of Wednesday Bazaar.
Out of the 30 respondents, 19 have been found to be aware of the Wednesday Bazaar offer. And 2 out of 30 have a slight idea about the offer. The remaining 9 are not aware of Wednesday Bazaar at all.
Fig.9
1 – VM i.e. danglers, signages, etc.
2 – Newspapers.
3 – TVC.
4 – RD-Show.
According to the previous data analyzed i.e. fig. 8, only 68% of the respondents have been found to be aware of Wednesday Bazaar offer. That is, 18 out of 30 respondents are aware of the offer and the remaining are either unaware or have a slight idea. Therefore, out of the 18 respondents who are aware of the offer, 4 (40%) are aware through the visual merchandising within the store i.e. danglers, signages, etc. and also the announcements made in the store. 6 (33%) out of 18 respondents are aware through newspaper ads, 4 (20%) out of 18 through TVC and 1 (7%) out of 18 through road show.
Fig. 10
1 – Avail Wednesday Bazaar offer.
2 – Do not avail Wednesday Bazaar offer.
Out of the 15 respondents aware of Wednesday Bazaar offer, only 73% i.e. 13 respondents avail the offer. The remaining 27% i.e. 5 do not avail the offer.
Fig. 11
1 – Offers way of fooling customers.
2 – Inconvenient coming on Wednesdays.
3 – Not interested.
4 – Not much of price difference compared to other days or places.
5 – Not clear about the offer.
Out of the 18 respondents aware of the offer, 5 do not avail the offer and the reasons given by them are mentioned above. 1 out of 5 find offers misleading or way of fooling customers, 3out of 7 find it inconvenient to come on Wednesdays, 2 respondents have no interest in offers, 1 does not find much of price difference on products on the offer days and the remaining 3 respondents are not clear about the offer. They complain of not having a clear idea of the products that are discounted during the offer. No. of danglers and sinages are too many to get them confused about offers.
SABSE SASTE TEEN DIN
Fig. 12
1 – Avail SS3D offer
2 – Do not avail SS3D offer
Out of the 15 respondents aware of SS3D offer, only 73% i.e. 13 respondents avail the offer. The remaining 27% i.e. 2 do not avail the offer.
Conclusions
The Great Exchange Offer
According to the data analysis done in the previous chapter, it has been found out that for The Great Exchange Offer, the awareness level of people has been sufficient enough. The biggest source of information here has been the newspaper ads. However, number of people who have availed the offer could have been more. It also has been observed that majority customers who availed the offer have been the ones who had availed the offer last year. The number of first timers is less compared to the repeaters.
Here, the first timers can be considered as potential customers for the coming years. As they can be expected to avail the offer next year again.
It was also observed that some customers approached the exchange offer spot without complete knowledge about the offer with junk and on knowing the rules, especially coupons redeemable only on purchase of 4 times the amount of coupons. These customers were seen to have gone back immediately. These customers came with the perception of acquiring new products directly in exchange with the worn out junk that they brought along without any purchases. The conclusion drawn here can be that these customers came to the offer spot without reading the offer carefully in the ads published.
Respondents who readily availed the offer had a common point of view i.e. one of the best ways of getting rid of junk and buying new useful products with a flat 25% discount.
Some respondents went to the store first to have a look at the products that were under the offer. Some products were marked down and on top of it were placed under the offer which means a 25% further discount on them. This gave an opportunity to the customers to avail the offer more readily as the product of their choice was available on a very low rate.
The offer had some common cons that were distinct. For example, number of days given to customers to redeem the coupons was 7. For some customers who gave away lot of junk and got coupons worth thousands of rupees found it difficult to make purchases 4 times the amount of coupons issued to them.
Wednesday Bazaar
According to the data, sufficient danglers in the store along with sinages, newspaper Ads,
Hoardings and TVC, the awareness level for this offer has been found out to be very good. Customers who are aware of this offer are very interested in availing it. Reason being good idea of the product that are under the offer. Wednesday Bazaar has plenty of products marked down on Wednesday; however customers find them easily within the store. This could be because of Newspaper Ads, Hoardings and Danglers and Sinages inside the store, which makes the customers to able the spot of the products easily under the offer. Respondents who visit on Wednesday very eagerly come because of the offers.
Sabse Saste Teen Din
“Sabse Saste Teen Din” customers were already prepared for the mega shopping event, because of marketing pre activities like Television Ads Newspaper,Hoardings,Local cable Ads ,Road show,Posters,Sms activity, Corporate tie up. Customers were waiting in Queue to get in store. A lot of shopping was done by customers from every department. On an average basis each and every customer purchased not less than 1000 Rs.Minimum three to four bags with full of product were their in every customer hand. Shopping was done by the all age group right from small children to old, and the store ended doing 104% of the store’s target (ABP) and the highest achievement in all the Big Bazaar in Pune was Fatima Nagar store which did 1crore in a day.
Recommendations
The Great Exchange Offer
The biggest drawback in this offer is the number of days given to customers for redeeming the coupons. People who are issued large amounts of coupons can be given more number of days for redemption depending on the amount of coupons issued. For example, customers issued with coupons amounting to Rs. 1500 can be allotted 2 weeks time as the amount required to be spent by them is Rs.4500.
Customers not interested in offers are the ones who make purchases irrespective of offers running or not so they are the least potential customers.
Wednesday Bazaar
One of the biggest drawbacks is the distinct visibility of the products under offer on that particular day. The number of sinages within the store can be reduced for that particular day. Products placed under offer for that day should be highlighted more with better display of the discount offered.
Another way of generating awareness of Wednesday Bazaar is by distributing discount coupons on Tuesdays with list of items under offer for Wednesday. Customers walking in with the coupon the next day can avail a discount if he/she selects and decides to purchase an item mentioned on the coupon. This way, customers will walk into the store on Tuesdays out of curiosity to know about the products that are being offered the next day hence, increasing the footfall on Tuesday as well as Wednesday. Creating an impact of Wednesday Bazaar is necessary as it is an offer which has been introduced at Big Bazaar on a long-term basis.
SABSE SASTE TEEN DIN.
According to the data analysis done, it has been found out that for the SS3D, the awareness level of the people has been sufficient enough. The biggest source of information here has been the NewspaperAds, Roadshow, Sms activity. However, number fo people who have availed the offers could have been more. The majority customers who have availed the offers have been the ones who had availed the offer last year. The number of first timers is less compared to the repeaters.
Here, the first timers can be considered as potential customers for the coming years. As they can be expected to avail the offer next year again. It was observed that some customers approached the SS3D offer spot without complete knowledge about the offer. People who wants to shop had gone back because of huge rush in the store and hours waiting to enter in the stire.Peoples coming with their family find it very difficult to enter in the store.
Some of the customers left their shopping bags in the store, because of the huge line at billing counter. The entire home delivery and exchange counter has been closed for next three days .If all the things would have been done in a proper manner, the store could have done much better by achieving 110% instead of 104%.
ANNEXURE – 1
1. Big Bazaar visits?
Frequently (6-7 times a month) Regularly (once a week) Infrequently (1-2 times a month)
During offers only Only on Sundays
2. Aware of Exchange Offer? Yes No
3. If Yes, then source of awareness: Newspaper Ads TVCs VMs
Hoardings Reference/Mouth publicity
4. Availed Exchange Offer? Yes No
5. If Yes, then availed first time or has availed previously too?
6. (If respondent has availed Exchange Offer) Influences?
Getting rid of worn outs in exchange of
new products.
Uniqueness of the offer.
Any other reason (Specify)
8. Would he avail the offer again, next year? Yes No
9. (If respondent has not availed Exchange Offer) Reasons?
Offers mislead/fool customers.
Long distance traveler.
Not interested.
Have to shop 4 times the value of coupons issued within 7 days from date of issue.
Any other reason (Specify)
10. Any other comments:
ANNEXURE – 2
1. Aware of Wednesday Bazaar Offer? Yes No Slight idea
2. If Yes, then source of awareness: Newspaper Ads TVC VM
Hoardings Reference/Mouth publicity
3. Avails Wednesday Bazaar Offer regularly? Yes No
4. (If respondent avails Wednesday Bazaar Offer) Influences?
Convenient shopping on Wednesdays.
Lower prices as compared to other days.
Any other reason (Specify)
5. (If respondent does not avail Wednesday Bazaar Offer) Reasons?
Offers mislead/fool customers.
Inconvenient coming on Wednesdays.
Not interested.
Lowered prices are similar to the prices elsewhere.
Offer not clear.
Any other reason (Specify)
6. Any other comments:
ANNEXURE-3
1. Aware of Sabse Saste Teen Din? Yes No Slight idea.
2. If Yes, then source of awareness: Newspaper Ads Hoardings
Reference Cable Ad/Road Show TVC
3. Availed SS3D Last Year? Yes No
4. ( if respondent avails SS3D Offer) Influence?
Offers only for 3 days.
Lower Price as compared to other days
Any other reason (specify)…………………….
5. (if respondent does not avail SS3D Offer) Reasons?
Lowered prices are similar to the price elsewhere.
Inconvenient location.
Not interested
Any other reason (specify)………………………….
6. Any other comments………………………………………………….
